231 Flagler St Miami, FL 33131-1321
Property profile & analytics
231 Flagler St, Miami, FL 33131-1321
- Outlet malls
- 12,920 SF
- 0.32 lot acres
Property ID
US18-5482623
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Orange Carmelo / Clothing & Fashion Store
Property Details for 231 Flagler St
- Year built
- 1982
- Construction
- CONCRETE
- Lot size
- 0.32 lot acres
- Zone code
- 6401:COMMERCIAL
- Property type
- Outlet malls
- Property subtype
- Shopping centers
- APN
- 01-0111-080-1120
- APU
- 101110801120
Description
This exceptional 0.32-acre land parcel, located at 231 E. Flagler St. in Miami's vibrant Downtown submarket, presents a compelling redevelopment opportunity. Zoned T6-80-O, this property allows for high-intensity mixed-use development, with an 80+ story height limit and the potential for 321 dwelling units as-of-right. The site's 14,000 square foot area is ideally situated on East Flagler Street, a key location undergoing significant revitalization as a pedestrian-friendly boulevard. This prime location benefits from reduced or no parking requirements for multifamily developments, mirroring successful projects on similar lots. The area's transformation is further enhanced by nearby developments like Miami Worldcenter and Met Square, bringing increased shopping and entertainment options. Cultural attractions such as the FTX Arena, Perez Art Museum Miami, and Bayside Marketplace are also within easy reach. Exceptional transportation links include the Brightline train station at Miami Central, the Metromover, Metrorail, and convenient access to I-95 and I-395. This offering represents a unique chance to capitalize on Miami's thriving urban core and its robust infrastructure. The Flagler Beautification Project, a public-private initiative, will further enhance the area's walkability and appeal, solidifying East Flagler Street's position as a premier destination. The property's high-density zoning and strategic location make it an ideal investment for high-rise residential or mixed-use projects.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $7,025,000
- 6.5%
- $6,485,000
- 7%
- $6,020,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $8,949,000
Market price range: $878k - $12.0M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $11,890,000 Current use
- RESTAURANT
- $9,580,000 Change: -19% Conversion: Easy
- COMMERCIAL (GENERAL)
- $9,550,000 Change: -20% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Miami
- County
- Miami-dade
- State
- Florida
- Longitude
- -80.1896
- Latitude
- 25.7746
- CBSA code
- 33100
- CBSA name
- MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$187,972
$9,800,000
$694,124
$10,494,124
-
$9,800,000
$694,124
$10,494,124
